RSM Malaysia

RSM 2021 Budget Highlights

10 November 2020
Budget 2021 was announced on 6 November 2020.

eNewsletter 07/2020: Special Tax Alert

14 October 2020
Service Tax Guide on Reimbursement and Disbursement

eNewsletter 06/2020: Summary of current tax updates in Malaysia

10 August 2020
Summary of current tax updates in Malaysia

eNewsletter 05/2020: Short-Term Economic Recovery Plan (PENJANA): Tax-Related Measures

11 June 2020
Further to the Economic Stimulus Package (also known as PRIHATIN) to aid the people and businesses of Malaysia afflicted by the COVID-19 pandemic, the Government is now aiming to lead the country to the recovery phase. This is done with the announcement of the RM35 billion PENJANA stimulus package with measures introduced to attract investments and foster economic activities domestically to restore the economy. We highlight below the tax-related measures that have been announced.

eNewsletter 04/2020: Penalties for late payment of taxes which fall during the Movement Control Order (MCO) period

13 May 2020
On 30 April 2020, the Royal Malaysian Customs Department (“RMCD”) announced in a special alert that penalties for late payment of SST for the Taxable periods during the MCO period will be automatically generated in the MySST system. However, RMCD will remit the penalties generated as soon as possible.

eNewsletter 03/2020: Technical update : Earning Stripping Rules

29 April 2020
Income Tax (Restriction on Deductibility of Interest) Rules 2019

eNewsletter 02/2020: Tax implications for employers amidst COVID-19 (Updated: November 2020)

15 April 2020
The adverse impact of COVID-19 to businesses has been severe in most cases. This has forced employers to seek for alternatives to how they manage their human resources. We share some thoughts on the tax implications for some of the possible scenarios.

eNewsletter 01/2020: PRIHATIN - Tax related measures and measures to aid SMEs amidst COVID-19 (Updated: 20 May 2020)

10 April 2020
As COVID-19 has heavily impacted the Malaysian economy and the wellbeing of its people, the Government of Malaysia has been announcing a slew of measures to aid the people and businesses to make it through this trying time. We highlight below the tax-related measures and measures particularly to aid Small and Medium-sized Enterprises that have been announced so far

Service Tax on Digital Services

23 September 2019
During the Budget 2019 speech on 2 November 2018, the Minister of Finance announced that Malaysia will look to broaden the scope of service tax to foreign service providers who provide digital services to consumers in Malaysia. The government proposed to implement the imposition of service tax on digital services on 1 January 2020.

RSM 2020 Budget Highlights

15 October 2019
The Honourable Finance Minister, Mr. Lim Guan Eng tabled the 2020 Budget on 11 October 2019. The theme for the 2020 Budget is “Driving Growth And Equitable Outcomes Towards Shared Prosperity”.

Recent updates on Service Tax (September 2019 Edition)

30 September 2019
The Minister of Finance is scheduled to table the Budget 2020 in Parliament on 11 October 2019 and we foresee that there will be changes to the Sales Tax and Service Tax (“SST”) legislation. We will be update you on the significant changes of the Budget 2020 in our October 2019 edition.

Tax Alert (May 2019)

29 May 2019
The SVDP was first announced in the 2019 Budget and is a tax amnesty initiative by the Inland Revenue Board (IRB). SVDP is focused mainly on taxpayers who have overseas bank accounts as well as taxable income in Malaysia but not yet declared to the IRB.

Indirect Tax Update- January 2019

4 January 2019
The Royal Malaysian Customs Department (RMCD) has announced the following with effect from 1st January 2019: -

2019 Budget Highlights

7 November 2018
The Honourable Finance Minister, Mr. Lim Guan Eng tabled the 2019 Budget on 2 November 2018. The theme for the 2019 Budget is “A Resurgent Malaysia, A Dynamic Economy, A Prosperous Society”  This highlight looks into the key changes affecting your business or industries.